Healthcare cost hits home!

[widgeon13]

I retired in 2004 and took a lump sum as retirement since I was not terribly confident that the company would last. I was an officer of the company so some might say I was part of the problem. I like to think I was part of the solution and they just would not listen to me. Well after 5 years the company has declared bankruptcy and will restructure. That's fine but they are cutting back on health care for retirees. I made no contribution for my health care so was cost free for the last 5+ years, now I will have to pay $903 per month for medical for myself and my wife. I'm a little pissed but since my cost has been ZERO for the last five years I guess I can't be too bitter.

My question is, "How does that cost compare to what others are paying for health care for husband and wife"? The other good thing is that I will be 65 in two years so will go on Medicare and wife will be there in 3 years. We are healthy but don't want to take silly risks and try to save 10K and find we have a huge liability in the event of a catastrophe.

I don't want this in PARF because I'm hoping to get some good cost figures and OT has a more broad spectrum so please keep that in mind if and when you reply. I have until the end of Oct to stay with the company plan and if I leave, it's for good, no returning.

Blue Cross of NY wants $1032/mo for similar coverage so I'm guessing the company plan is still pretty good.

[Dueller]

My wife and I pay right at 1200/mo....with a $5K deductible. She's 50 and I'm 54. No real health issues. I would love to get insurance for 900/mo.

[widgeon13]

Thanks very much, just the kind of feedback I'm looking to get. I'm trying to keep it all in perspective knowing I've been very fortunate up to this point.

[Rot 911]

When I looked into insurance for my family last February I was looking at around $800 a month with Blue Cross/Blue Shield.

[Dueller]

I don't mean to make this a political commentary but affordable health insurance is a problem for a lot of us.

[BlueSkyJaunte]

My mother alone is $1400/mo....she let slip that her sister had breast cancer and it was all over from there.

My father is over 65 so he was dumped by his ins co and is on Medicare and is shopping for supplemental. He's thrilled, I assure you.

[widgeon13]

I'm guessing that demographics has some impact on cost figures as well which might explain the differential, thanks very much for the info.

[widgeon13]

I have always been of the opinion that if you don't have any skin in the game there is the tendency to abuse the benefits so while I got health care at no cost, I don't think that is the most practical approach if cost control is important and it's obviously a big factor in affordable health care. So I think everyone should pay some amount of the cost just so they watch how the system works or is worked by others who might be more likely to abuse the system.

[daepp]

I don't know where you live but you can get Kaiser Permanente HMO insurance in So Cal for around 700/mo.

[red-beard]

I'm paying $213 per month for a catastrophic care plan. $5000 deductible (total for both of us), and then Insurance pays 80% of everything afterwards. Maximum lifetime benefit is $5,000,000. We have access to Blue Cross/Blue Shield pricing with all doctors. This plan covers both myself and my wife. Drugs are covered at 80%, once past the deductible. I have the bylaws of our corporation setup so that it pays the monthly payment AND it covers all medical expenses. I'm 44 and my wife turns 44 in 2 months.

My Dental plan is $48/mth for both of us (through ASME).

[ben parrish]

Similar to red-beard, we were paying $280.00 per m/o (BC/BS)for my wife and our two children. 5K deductible, then 80% to 10k a yr. out of pocket for the family. I'm 41 and my wife is 42; kids are 6 and 3. This is all we needed as we are healthy and really don't go to the doc. The kids go for check-ups and immunizations. We found that if you tell the doc up front that you will be paying cash, the rates for service were much lower as they didn't have to pay someone to file insurance forms then wail 30-60 days to be paid.
We now have BC/BS through work. Paying about $240 m/o for 90% coverage with no deductible, vision and dental, drugs. $20 co-pay at the doc.

[RPKESQ]

I pay $758 per year.

I have no deductable and no copays.

I do not have a lifetime limit.

[Joeaksa]

Shopping for mine now. COBRA wants $930 a month for me alone but thats out of frigging Kalifornia. Now we know why the state is bankrupt.

Appears to be around $300 a month with the usual suspects. Am mid-50's and no health issues. Agree that it should be lower but would rather eat dirt than have it supplied by the govt. I make enough money to pay for it but hope its never used.

[Dueller]

Originally Posted by Joeaksa

Shopping for mine now. COBRA wants $930 a month for me alone but thats out of frigging Kalifornia. Now we know why the state is bankrupt.

Appears to be around $300 a month with the usual suspects. Am mid-50's and no health issues. Agree that it should be lower but would rather eat dirt than have it supplied by the govt. I make enough money to pay for it but hope its never used.

Joe...I don't understand the relationship with COBRA extended coverage for private coverage continuation and Kali being broke.

What type of coverage can you get for $300? I can get a policy in that price range for catastophic coverage but the policies I looked at only covered dengue fever or some such obscure catastophe.

[Joeaksa]

Jim,

The same BCBS coverage for me here in AZ would cost $300. With Kali charging three times as much for the same coverage its not too difficult to see that someone is pi$$ing a lot of money away for nothing.

I worked for a Cali company, so have to get COBRA in Cali. As I live in Arizona am going to have to go on a stand alone policy due to the cost.

Joe

[Dueller]

I see Joe...didn't realize the Cali BC/BS was so skewed. But then part of my excessive premiums originate in the unhealthiest state in the Union. Even or assigned risk pool coverage is 500+/mo for an individual.

[Christien]

Originally Posted by RPKESQ

I pay $758 per year. snip

Originally Posted by ben parrish

Not to go off topic, BUT...what is your tax rate? snip

Rather than get political, as the OP explicitly requested, I think the point here was to offer an alternative, that if the OP is in serious trouble with personal health care, there may be other options in other parts of the world. Of course, I'm sure there are residency requirements that you must live there for a certain period of time before being eligible, but for some people that may be a very viable option.

In Canada, many people who can afford to do so will jump the queue and pay for certain procedures in the US at a private clinic, particularly diagnostic procedures, which can indeed have a lengthy waiting list here. The gov't really frowns upon, but I can't say I'd do any different if I were in the position and could afford it. Best of both worlds, as I see it.

[Dueller]

I guess the most practical solution is for the Feds to mandate each of the 4 or 5 private major insurers to set up a group plicy for say 20 million uninsured citizens. Have an oversight agency regulate policies/coverage/premiums. There. Done.

[NY65912]

Presuming you are in NY........look into Blue Shield/ Blue Cross Healthy New York.

My daughter graduated college, not currently working and is now not able to be under my coverage at work.

We pay $300 with a prescription plan.

[ben parrish]

Christien, you are right sir. Deleted.